Newsletter - CONSOB AND ITS ACTIVITIES
Newsletter
News of the week:
Watch for scams! Financial fraud: Consob blacks out 3 more abusive websites
FinTech: second test phase at the end of the year for innovative projects in finance, banking and insurance
Clearer prospectuses and EU best practices. COMI gives green light for new guidelines
IOSCO gives green light for new ISSB sustainability standards
The ESMA issues a reminder on ESG disclosures in prospectuses
Openjobmetis, Consob approves the bid document of the voluntary takeover bid on treasury shares
Banca Popolare Etica: Consob approves the offer prospectus to subscribe and sell shares
Investor protection warnings from other regulatory authorities
Commission decisions taken during the week
Management decision
NOTICE: The publication of "Consob Informa" is suspended for five weeks and will resume with number 29 on Monday, 11 September 2023.
Consob has ordered the black-out of 3 new websites that offer financial services illegally.
The commission availed itself of the new powers resulting from the "Decreto Crescita" ("Growth Decree"; Law no. 58 of 28 June 2019, Article 36, paragraph 2-terdecies), on the basis of which Consob can order internet service providers to block access from Italy to websites offering financial services without the proper authorisation.
Below are the sites Consob has ordered to be blacked out:
- "JFD Market" (website https://jfdtrade.net and its page https://account.jfdtrade.net);
- Orionda Financials Ltd and TradeCare365 Markets Ltd (website tradecare365.com and its pages https://clientzone.tradecare365.com and https://webtrader.tradecare365.com);
- "VirtuFinance" (website virtufinancialireland.com and its page https://webtrader.virtufinancialireland.com).
The number of sites blacked out since July 2019, when Consob got the power to order that the websites of fraudulent financial intermediaries be blacked out, has thus risen to 930.
The measures adopted by Consob can be consulted on the website www.consob.it. The black-out of these websites by internet service providers operating on Italian territory is ongoing. For technical reasons, it can take several days for the black-out to come into effect.
Consob draws investors' attention to the importance of adopting the greatest diligence in order to make informed investment choices, adopting common sense behaviours, essential to safeguard one's savings: these include, for websites that offer financial services, checking in advance that the operator with whom you are investing is authorised, and, for offers of financial products, that a prospectus has been published.
To this end, Consob notes that there is a section on the homepage of its website www.consob.it entitled "Watch for scams!", providing useful information to warn investors against financially abusive initiatives.
* * *
Consob also prohibited, pursuant to Article 99(1)(c) of the Consolidated Law on Finance (TUF), offers to the public of financial products concerning 'investment plans' made respectively by Finex Finance Global via the website www.finexfinanceglobal.com, Goldy Deal via the website www.goldydeal.com, Profitexpertsinc Ltd via the website https://profitexpertsinc.com and Luxem Capital Inc via the website https://luxemcapital.com (resolutions nos. 22792, 22793, 22794 and 22795 of 26 July 2023).
The offers had already been suspended by resolutions no. 22726 of 1 June 2023, no. 22698 of 11 May 2023, no. 22703 of 18 May 2023 and no 22713 of 24 May 2023).
From 3 November to 5 December 2023, the second test phase for FinTech activities will commence in Italy, during which industry operators can apply for admission to the regulatory sandbox, a protected space for testing digital projects in banking, finance and insurance.
The testing - provided for by the Ministry of Economy and Finance's Decree no. 100 of 30 April 2021 - allows supervised intermediaries and operators of the FinTech sector to experiment with innovative products and services, benefiting from a simplified transitional regime and in constant dialogue with the supervisory authorities: Consob, Bank of Italy and Italian Insurance Supervisory Authority (IVASS).
In this second phase, there are no limitations in terms of the maximum number and subject area of projects eligible for experimentation. Operators interested in submitting an application are therefore invited, within the indicated deadlines, to start informal discussions with the Authorities as soon as possible.
For more information, please refer to the dedicated pages available on the official websites of Consob, Bank of Italy, and IVASS as well as the website of the Treasury Department where the Technical Secretariat of the FinTech Committee is found and where it is also possible to consult the official register of FinTech operators currently already admitted to testing.
A green light for new guidelines on prospectuses has been given by the COMI, the Committee set up by Consob as a forum for discussion with market operators and investors.
The new guidelines promote a simpler and clearer representation of certain specific information that, under European law, must be included in prospectuses for offers to the public and admission to trading on regulated markets, in order to standardise their content, bringing it into line with the practices of other EU Member States, and to facilitate their comprehension, also during scrutiny by Consob.
The document - drawn up by a special COMI Working Group in which Consob structures also participated - brings together a number of best practices in the drafting of prospectuses. Consob, therefore, supports their adoption by the largest possible number of operators, on the assumption that such guidelines can simplify discussions between operators and the Authority when scrutinising prospectuses, helping to speed up approval times.
The objective is in line with the aims of the Green Paper published by the Ministry of Economy and Finance and the government's legislative initiatives to promote the access of businesses to the capital market.
To ensure the widest possible dissemination of the guidelines adopted by the COMI, one or more meetings open to industry operators will be held, aimed at illustrating the content of the initiative and to stimulate debate on best practices in drafting prospectuses.
The new international sustainability reporting standards recently issued by the International Sustainability Standards Board (ISSB), that is, IFRS S1 (General Requirements for Disclosure of Sustainability-Related Financial Information) and IFRS S2 (Climate-related Disclosures) will serve as a basis for international reference.
On 25 July 2023, the IOSCO, an organisation of which the financial supervisory authorities of the various countries of the world are members, took the decision to endorse the new standards (that is, to support their adoption), with the target of having a complete toolkit for both sustainability reporting and certification requirements for the various jurisdictions, which should be available to issuers for accounts by the end of 2024.
The IOSCO therefore calls on its 130 member countries, which represent the regulators of more than 95 per cent of the world's financial markets, to consider ways of adopting, implementing or making reference to the ISSB standards in their jurisdictions so as to promote the dissemination of consistent and comparable climate-related and other sustainability-related information to investors.
The IOSCO achieved a comprehensive, independent review of these standards after two years of discussions with the ISSB that culminated in the definition of IFRS S1 and IFRS S2, which were deemed suitable for providing a comprehensive framework for sustainability reporting in capital markets in both raising and trading capital, and to enable investors to accurately assess relevant risks and opportunities related to sustainability issues.
With regard to the upcoming adoption process, the IOSCO draws attention to the guidance contained in the document The jurisdictional journey to implementing IFRS S1 and IFRS S2-Adoption Guide overview published - also on 25 July 2023 - by the IFRS Foundation and containing guidance for the implementation of the published ISSB standards mentioned above.
Prospectuses that give weight to an issuer's non-financial statements in light of the European Non-Financial Reporting Directive. Sustainability reporting based on the Corporate Sustainability Reporting Directive, bearing in mind that the disclosure may be material under the Prospectus Regulation. Specific disclosure requirements for bonds placed with the announcement of a specific ESG (Environmental, Social and Governance) objective, such as 'sustainability-linked' bonds and bonds that explicitly refer to the ‘use of proceeds'. Finally, a reminder to include in prospectuses the reporting information that is relevant to the Prospectus Regulation but that is sometimes only included in advertisements prior to placement.
These are some of the supervisory expectations outlined by the ESMA, the EU's Financial Markets Regulatory and Supervisory Authority, in a statement (Statement on sustainability disclosure in prospectuses) on compliance with the Prospectus Regulation by equity and non-equity issuers on matters of sustainability and in light of the ESG transition.
The ESMA supports the environmental, social and governance (ESG) transition by focusing on the effectiveness and integrity of markets for ESG ratings. Given the importance of these issues for investors, the European Authority, in addition to issuing the Statement, calls for coordinated action by the National Competent Authorities (NCAs) on sustainability disclosures that should be included in prospectuses in accordance with current legislation. In addition, although the Statement is addressed to the NCAs, its contents should also be taken into consideration by issuers and advisors when drafting prospectuses.
Consob approved the document relating to the partial voluntary takeover bid of Openjobmetis Spa Agenzia per il Lavoro (OJM) on treasury shares. The unit consideration of the offer is 9 euro per share, for a maximum disbursement of 13,500,000 euro, and the offer subscription period agreed with Borsa Italiana is from 7 August to 8 September 2023, without prejudice to any extensions.
The offer relates to 1,500,000 OJM ordinary shares, representing 11.22% of the issuer's share capital; excluded from the offer are the 342,759 OJM shares held by the issuer itself, representing 2.56% of the relevant capital.
OJM ordinary shares have been listed since 2015 on Euronext Milan, Star segment, organised and operated by Borsa Italiana. The offer is not aimed at delisting the issuer's ordinary shares nor will it lead to such delisting.
Given that the bidder and the issuer are the same, the communication pursuant to Article 103(3) of the Consolidated Law on Finance (TUF) will not be prepared.
The offer, launched by the issuer pursuant to Articles 102 et seq. of the Consolidated Law on Finance (TUF) (resolution no. 22791 of 26 July 2023), does not depend on the achievement of a minimum number of subscriptions. Therefore, OJM will acquire all of the shares tendered in the offer up to the maximum number of shares in the offer, without prejudice to the assumptions of the allotment, which will take place according to the 'pro rata' method. In this case, OJM will therefore purchase the same percentage from all those participating. In the event of total subscription to the bid, OJM will hold 1,842,759 shares overall, corresponding to 13.78% of its share capital.
The date on which the consideration will be paid to the participants in the offer is 15 September 2023, without prejudice to any extension of the subscription period.
OJM, a company incorporated under Italian law founded in 2011, is mainly active in the leasing of generalist labour and specialised labour in family care, through its subsidiary Family Care Srl - Agenzia per il Lavoro. In addition, through its other subsidiaries, it offers a wide range of services to businesses in the areas of research and selection, change management, relocation and staff training.
The shareholdings in the share capital of the issuer (as at the date of the last communication pursuant to Article 85-bis, paragraph 4-bis, of the Consolidated Law on Finance, that is, as at 4 May 2023), whether direct or indirect, that are significant in accordance with the Consolidated Law on Finance (TUF) are: Omniafin Spa. 18.45%; Praude Asset Management Ltd 11.79%; Quaestio Italian Growth Fund 6.91%; MTI Investimenti Srl 5.15%; Anima Sgr Spa 11.25%.
A three-year shareholders' agreement is in force between the shareholders Omniafin and MTI by which the parties intended to regulate certain specific aspects concerning their shareholding in the company. Each party contributed all of its shares and voting rights to the shareholders' agreement; thus, the shareholders' agreement aggregates 33.174% of the total voting rights in OJM. None of the parties exercises control, by virtue of the aforementioned agreement, over the company pursuant to Article 93 of the Consolidated Law on Finance (TUF). Omniafin and MTI Investimenti have indicated their intention not to subscribe to the offer with regard to their shareholdings in the issuer.
In addition, Omniafin and MTI have undertaken to waive, if necessary, in proportion to the number of shares held by each of them, the increase in voting rights with respect to a number of shares such that the obligation to launch a takeover bid does not arise either individually with regard to Omniafin and any parties acting in concert with it, or jointly, with regard to Omniafin and MTI and any parties acting in concert with them (also possibly pursuant to Article 106(5)(d) of the Consolidated Law on Finance and Article 49(1)(e) of the Issuers' Regulation).
The effectiveness of the offer is subject to the following conditions:
- the non-occurrence, within the first trading day following the end of the subscription period, of extraordinary events or situations at a national and/or international level involving serious changes in the political, financial, economic, currency or market situation not known to the bidder and/or the market at the date of publication of the bid document and which have a substantially prejudicial effect on the offer, on the business conditions and/or on the equity, economic and/or financial conditions of OJM and/or on the companies belonging to the OJM Group. The condition also includes, inter alia, any of the aforementioned circumstances that may arise as a result of, or in connection with, the conflict between Russia and Ukraine, political and military tensions between China and the US and/or the possible recurrence of the COVID-19 pandemic (the "MAC Condition");
- the failure by competent institutions, bodies or authorities to adopt or publish, within the first trading day following the end of the subscription period, the legislative, administrative or judicial acts or measures such as to preclude, limit or make the possibility of OJM and/or the OJM Group to conclude the offer ("Conditions of Charges") more burdensome, in whole or in part, even temporarily.
The bidder may waive, or modify under the terms, in whole or in part, at any time at its sole discretion, the conditions of the offer.
Consob approved the prospectus relating to the public offer for the subscription and sale of ordinary shares of Banca Popolare Etica Scpa (BPE), not listed on an Italian or foreign regulated market or on other international markets or on a multilateral trading system.
The transaction concerns ordinary shares of Banca Popolare Etica and includes both a public offer for the subscription of newly issued shares and a public offering to sell the treasury shares held by the same issuer, at an offer price of 61 euro per share (corresponding to the nominal value of 52.50 euro increased by 8.50 euro as a share premium).
There is no maximum amount of newly issued shares nor a set amount of treasury shares to be sold, as the issuer is making the offer pursuant to Article 19 of the By-Laws, Articles 2524 and 2528 of the Italian Civil Code as well as the Bank of Italy's Supervisory Instructions, which give the Board of Directors the possibility to carry out extraordinary campaigns to expand the membership base, and therefore without setting a minimum or maximum limit on the share capital increase. The issuer, however, has estimated realising a capital increase of 6 million euro as part of the offer
The offer is part of a campaign to broaden the bank's membership base and strengthen its capital. The purpose of strengthening the capital structure in this way is to ensure, also in relation to development programmes, the capital and financial balances suitable for ensuring compliance with the parameters laid down by supervisory regulations, to support the development of lending and to encourage migration to new digital platforms.
BPE has expressed its intention to apply, as it has done in previous years, for the ‘passporting' of the prospectus to the Iberian Supervisory Authority, for the purpose of conducting the offer also in Spain where the issuer has a branch.
Banca Popolare Etica, founded in 1999, is the parent company of the group of the same name and performs the functions of direction, governance and unitary control over the two subsidiaries Etica SGR Spa and CreSud Spa.
It conducts credit intermediation, provides investment services and activities and carries out insurance distribution activities through 430 employees, 21 branches in Italy and a branch in Spain.
As at 31 March 2023, the share capital of the issuer, which is variable due to the bank's nature as a cooperative society, was distributed among 48,877 members. In terms of capital shares, at this date, the non-natural person shareholder with the highest shareholding held 14,602 shares, for a share of 0.83%, while the natural person with the highest shareholding held 6,918 shares, for a share of 0.39%.
The prospectus contains, in the "Risk Factors" section, the risk elements relating to the issuer and the group, the bank's business and sector, as well as the risks relating to the financial instruments covered by the offer.
The supervisory authorities of the United Kingdom (Financial Conduct Authority - FCA), Spain (Comisión Nacional del Mercado de Valores - CNMV), Greece (Hellenic Capital Market Commission - HCMC), Germany (Federal Financial Supervisory Authority - BAFIN), Quebec (Autorité des Marchés Financiers - AMF - Quebec), New Zealand (Financial Markets Authority - FMA New Zealand), Switzerland (Swiss Financial Market Supervisory Authority - FINMA) and British Columbia (British Columbia Securities Commission - BCSC), Malta (Malta Financial Services Authority - MFSA), Alberta (Alberta Securities Commission - ASC), Austria (Austrian Financial Market Authority - FMA), Luxembourg (Commission de Surveillance du Secteur Financier - CSSF) report the companies and websites offering investment, financial, banking and insurance services without the required authorisations.
Reported by the Financial Conduct Authority (FCA) - United Kingdom:
- Capital Expert Trade (www.capitextrade.com);
- Encore Capitals / Ecr Capitals Limited (www.encorecapitals.com);
- Stocksbit Fxtrades (https://stocksbitfxtraders.com);
- Avacapitaltrade / Ava Capital Trade / De-lighttrustproof (https://avacapitaltrade.com, https://de-lighttrustproof.com);
- Bxcrypto Trading Investment Company (www.bxcryptotrading.com);
- Rapidcointrades (www.rapidcointrades.net);
- Morgen & Charles (www.morgencharles.com);
- Crypto Inner Circle (www.cryptoinnercircle.org);
- Ominecoin Limited (www.ominecoinltd.com);
- First Trade Mining Market (www.firsttrademiningmkt.com);
- Elite Capital Pro (www.elitecapitalpro.com);
- Etor Fx Trading (www.etorfxtrading.com);
- Saferhavenfx Ltd (www.saferhavenfx.com);
- Megafoxtrade (www.megafoxtraders.com);
- Apollo Blue Business Associates (www.apollobluebusinessassoc.com);
- Reliance Wealth & Fund Managament Llc (www.reliancewealthfundmgt.com);
- Nerofx Invest (https://nerofxinvest.com);
- Sinceresystemsgroupltd.Cc (https://sinceresystemsgroupltd.cc);
- Venus Fx / Venusfx.co (www.venusfx.co);
- Express Safepay / Express-safepayout.com (www.express-safepayout.com);
- Caltex Assets Investments (www.caltexassets.org);
- Gallant Access (www.gallantaccess.live);
- Debtify / Debtify.co.uk (https://www.debtify.co.uk);
- Rockchainfxc / Rockchainfxc.Com (www.rockchainfxc.com);
- Durban Tradefx (www.durbantradefx.com);
- Tradingbroker Fx (https://tradebrokerfx.com);
- Cryptomainia / Cryptomania Trade (www.cryptomainia.com);
- Alan Kirkhope Group (https://alankirkhopegroup.com);
- Atmos Energy Bank (https://atmosenergycorpbank.com);
- Elitecryptotrade24 (https://elitecryptotrade247.com, www.theforexgainers.com);
- Atlaxbit (https://atlaxbit.com);
- Ceenaj Logisticsfx (https://ceenajlogisticfx.com);
- Ccc-trade (https://ccc-trade.co);
- Elite Financial Markets / Elite Financial Group (https://elitefinancialmarkets.com);
- Trade Wl (https://tradewl.com);
- Capitalbmarket (https://capitalbmarket.com);
- Investpoint / Onecapital.Trade/ Onecapital.Company (https://investpoint.pro/, https://onecapital.trade/, https://onecapital.company);
- Arg Finance /Arg Finance Services Limited / Arg Personal Loans (email: admin@lhub.online, admin@lmatch.online, admin@dealcart.site, curtissharples1994@gmail.com), clone of a licensed company;
- Levels / Lv.Ls (https://lv.ls);
- StemicTrade Fx (www.stemic-fx.com);
- Ecoin Lite (www.ecoinlite.com);
- Ecoin Fx Trade (www.ecoinfxtrade.com);
- Oldcapital Trades / Goldcapitaltrades (www.goldcapitaltrades.com);
- Epic Growth Investments (www.epicgrowthinvestment.com);
- Wealthy Hargreaves Options (www.wealthyhargreavesoptions.com);
- Altpro Exchange Way (www.altproexchangeway.com).
Reported by the Comisión Nacional del Mercado de Valores (CNMV) – Spain:
- Awfx Bank / Aw Fx Bank Corporation (https://awfxbank.com);
- Bittleit (https://bittleit.com/);
- Blue Lock Investment (https://bluelockinvestment.com);
- The Btc Pro (https://www.thebtcpro.com);
- Chronos Investment (https://chronoswinvestment.com);
- Eufxbank (https://eufxbank.com/);
- Eurocryptofx (https://eurocryptofx.net/es);
- Euroxtradefx / Euroxtradefx Ltd (www.euroxtradefx.com);
- Eventos De Trading – Robot De Forex (https://eventosdetrading.com, https://robotdeforex.eventosdetrading.com);
- Gulfshore Trading (https://gulfshoretrading.com/);
- Jukebox / Jukebox Capital Inc (https://thejukebox.com);
- Mint Capital Fx (https://mintcapitalfx.site);
- Nordik Markets / Nordikmarkets Ltd (https://www.nordikmarkets.com);
- Optionfinmax (https://optionfinmax.cc/);
- Primhub Market (https://primhubmarket.net/);
- Proyecto1k (https://proyecto1k.com);
- https://webtrader1.ifctgroup.org;
- https://finexlimited.com.
Reported by the Hellenic Capital Market Commission – (HCMC) – Greece:
- https://orbisfx.com.
Reported by the Federal Financial Supervisory Authority (BAFIN) – Germany:
- Seidel Finance.
Reported by the Authorité des Marchés Financiers - (AMF - Quebec) – Quebec:
- Onspotbnk (www.onspotb.com). Already the subject of Consob resolution no. 22785 of 19 July 2023. Subsequently, the Authority using its powers deriving from the "Decreto Crescita" (Growth decree) (Law no. 58 of 28 June 2019, Article 36, paragraph 2-terdecies), ordered internet service providers to block access from Italy to the website www.onspotcap.com and its pages https://clientzone.onspotcap.com and https://webtrader.onspotcap.com;
- Captrader Financial (www.captrader.financial.com;
- Signix Ltd / Portrader / Xprestrade / Portrades (www.port-traders.com, www.xpresstrade.com, www.xprestrade.com, www.port-trades.com, www.portrades.com, www.portrades-int.com, www.portrader.com);
- Gensmarkets (www.gensmarkets.com);
- Jt-24 (www.jt-24.com);
- Wiicrypto (www.wiicrypto.com);
- Coins Capital (www.coins-capital.com);
- Security Shield (www.watod.com, www.coinveo.com, www.dishield.com, www.enkula.com, www.mpdia.com, www.shieldpi.com, www.shieldlf.com);
- Azioni Assets Management (www.azioniassets.com);
- Mobile one2one (www.mo2o-aim.com);
- Onetickatatime (www.onetickatatime.com);
- Investuspro (www.investuspro.com);
- Voltcoins (www.voltcoins.com);
- www.otcsx.live;
- Gravitaseblock (www.gravitaseblock.com);
- Quantum AI (www.tainedef.space);
- Gemini Invest (www.gemininvest.com);
- Concretio (www.can-concretio-work.com);
- Coinivate (www.coinivate.net);
- Simpliicryptos (www.simpliicryptos.com).
Reported by the Financial Markets Authority (FMA New Zealand) – New Zealand:
- Hsbc (www.hsbcnz.com);
- Bt Funds Management (https://www.btonline.co.nz);
- Titan Solutions Limited (www.ratesfinder.co.nz);
- Wbroker (www.wbroker.com);
- Grampoint (www.grampointclub.com);
- Holdingheritagelimited.com (www.holdingheritagelimited.com);
- PsluscCom (www.pslus.com).
Reported by the Swiss Financial Market Supervisory Authority (FINMA) - Switzerland:
- Bibox (www.bibox.com, www.bibox.cc);
- Swiss Cgp Group (https://swiss-cgp.ch/a-propos);
- Lagrand Group (www.lagrandg.com);
- https://gva-holding-sa.com, clone of a licensed company;
- Bitqy (www.bitqy.cc);
- Trustedwall (www.trustedwall.bz);
- Unitwall (www.unitwall.bz);
- Unowall (www.unowall.app);
- Wallone (www.wallone.cab);
- Openways Ltd (www.openways.app);
- http://aaatrade.ch/
- www.altrafinportal.com, clone of a licensed company;
- Yuan Pay Group (www.yuanpaygroup-official.com);
- Tih-Lmtd Taylor Investment And Trading (www.tih-lmtd.com);
- https://www.kudoscm.com, clone of a licensed company.
Reported by the British Columbia Securities Commission – (BCSC) - British Columbia:
- Trade-x Foundation (https://trxfo.com);
- Alphas (https://alphas-cfd.com).
Reported by Malta Financial Services Authority (MFSA) – Malta:
- Prolific Trades Ltd (www.prolifictrades.com);
- World Smart Investments (https://worldsmartinvestments.com).
Reported by the Alberta Securities Commission (ASC) – Alberta:
- Wasixcap (www.wasixcap.com);
- Trendingap (www.trendingap.com);
- Pu Prime (www.puprime.com);
- Marketsxpress (www.marketsxpress.com);
- Investuspro (www.investuspro.com);
- Investuspoint www.(investpoint.pro);
- Hash Trade Alliance (www.hashtradealliance.com);
- Gold Capital Investments (www.gcinvestments.co);
- Fintoch App (www.ftcchain.org);
- Cryptoprogram (www.cryptoprogram.me);
- Audemars Group (www.audemarsgroup.com).
Reported by the Financial Market Authority – (FMA) – Austria:
- Keler Group (www.kelergroup.com);
- Sparprime / CentralKasse (www.sparprime.com);
- btcmexc.net;
- https://mikrofinanz.org, https://mikrofinanz.org/lp/kigenie;
- Advancia (https://advancia.ch);
- Rpm-Pros (https://rpm-pros.com);
- Koinal.ai (https://koinal.ai, https://trade.koinal.ai).
Reported by the Commission de Surveillance du Secteur Financier (CSSF) – Luxembourg:
- Likewood-invest Ltd / Wood Finance Limited (www.likewood-invest.com);
- www.biloserclient.com, clone of a licensed company.
- The document relating to the partial voluntary takeover bid for ordinary shares of Openjobmetis Spa Agenzia per il Lavoro, launched by the issuer itself pursuant to Articles 102 et seq. of Legislative Decree no. 58 of 1998, has been approved (resolution no. 22791 of 26 July 2023).
- The prospectus relating to the offer to the public for the subscription and sale of ordinary shares of Banca Popolare Etica Scpa (decision of 26 July 2023) has been approved.
- The information note on the programme for the offer to the public of bonds issued by Banca Popolare dell'Alto Adige Spa has been approved (decision of 26 July 2023).
Order, pursuant to art. 7-octies, letter b) of Italian Legislative Decree no. 58 of 24 February 1998 (Consolidated Law on Finance) to cease infringement of art. 18 of Consolidated Law on Finance, put in place by:
- Jfd Market through the website https://jfdtrade.net and its page https://account.jfdtrade.net (resolution no. 22798 of 26 July 2023);
- Orionda Financials Ltd and TradeCare365 Markets Ltd through the website tradecare365.com and its pages https://clientzone.tradecare365.com and https://webtrader.tradecare365.com (resolution no. 22797 of 26 July 2023);
- VirtuFinance through the website https://jfdtrade.net and its page https://account.jfdtrade.net (resolution no. 22796 of 26 July 2023).
The Head of the Corporate Governance Division and the Issuers' Division Manager of Consob, based on the provisions of Article 3(3) of Consob Regulation no. 20267 of 18 January 2018, according to which "Each year Consob shall publish on its website a list of subjects that have published non-financial statements", have determined the list of subjects who in the period from 1 January to 15 July 2023 published non-financial statements (NFS) for the financial year commencing 1 January 2022 (the full text of the management decision no. 84 of 27 July 2023 is available on the website).